Vontobel Holding Ltd. Reduces Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Vontobel Holding Ltd. lowered its position in Equinix, Inc. (NASDAQ:EQIX) by 34.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,155 shares of the financial services provider’s stock after selling 1,628 shares during the quarter. Vontobel Holding Ltd.’s holdings in Equinix were worth $2,800,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Leisure Capital Management grew its holdings in shares of Equinix by 51.6% in the third quarter. Leisure Capital Management now owns 999 shares of the financial services provider’s stock valued at $887,000 after purchasing an additional 340 shares during the period. Sumitomo Life Insurance Co. lifted its position in Equinix by 2.7% in the third quarter. Sumitomo Life Insurance Co. now owns 1,650 shares of the financial services provider’s stock valued at $1,465,000 after buying an additional 44 shares during the last quarter. Griffin Asset Management Inc. lifted its position in Equinix by 1.0% in the third quarter. Griffin Asset Management Inc. now owns 1,933 shares of the financial services provider’s stock valued at $1,716,000 after buying an additional 20 shares during the last quarter. Hutchens & Kramer Investment Management Group LLC lifted its position in Equinix by 16.3% in the third quarter. Hutchens & Kramer Investment Management Group LLC now owns 414 shares of the financial services provider’s stock valued at $366,000 after buying an additional 58 shares during the last quarter. Finally, Creative Planning lifted its position in Equinix by 16.7% in the third quarter. Creative Planning now owns 7,754 shares of the financial services provider’s stock valued at $6,883,000 after buying an additional 1,111 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Stock Up 0.7 %

Shares of NASDAQ:EQIX opened at $895.20 on Friday. The firm’s 50 day moving average price is $855.35 and its 200 day moving average price is $797.53. The stock has a market cap of $84.96 billion, a price-to-earnings ratio of 89.79, a price-to-earnings-growth ratio of 2.13 and a beta of 0.71. Equinix, Inc. has a fifty-two week low of $677.80 and a fifty-two week high of $914.93. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 1.26.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing the consensus estimate of $7.88 by ($4.72). The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $8.04 earnings per share. As a group, equities research analysts predict that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st were paid a $4.26 dividend. The ex-dividend date of this dividend was Wednesday, August 21st. This represents a $17.04 annualized dividend and a yield of 1.90%. Equinix’s dividend payout ratio is currently 170.91%.

Wall Street Analyst Weigh In

A number of research analysts have commented on EQIX shares. TD Cowen upped their target price on shares of Equinix from $859.00 to $865.00 and gave the company a “buy” rating in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Hsbc Global Res raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 4th. HSBC raised shares of Equinix from a “hold” rating to a “buy” rating and increased their price target for the stock from $865.00 to $1,000.00 in a research report on Friday, October 4th. Finally, Cfra reissued a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Equinix currently has a consensus rating of “Moderate Buy” and a consensus price target of $914.36.

Insider Buying and Selling at Equinix

In other Equinix news, Chairman Charles J. Meyers sold 6,234 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $823.97, for a total value of $5,136,628.98. Following the transaction, the chairman now directly owns 7,680 shares in the company, valued at $6,328,089.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Scott Crenshaw sold 1,107 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $815.60, for a total transaction of $902,869.20. Following the transaction, the executive vice president now directly owns 4 shares in the company, valued at approximately $3,262.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Charles J. Meyers sold 6,234 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $823.97, for a total transaction of $5,136,628.98. Following the transaction, the chairman now owns 7,680 shares in the company, valued at approximately $6,328,089.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,043 shares of company stock worth $8,282,119 over the last three months. Insiders own 0.27% of the company’s stock.

About Equinix

Equinix (Nasdaq: EQIX) is the world's digital infrastructure company . Digital leaders harness Equinix's trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.